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(New York Times) Editorial - Since concluding the nuclear deal last July, Iran has yet to realize the expected economic benefits, but to a large extent has itself to blame. One impediment is that most American sanctions remain in place because of Iran's involvement in terrorism and human rights abuses and its testing of ballistic missiles. Iran knew that lifting all American sanctions was never part of the nuclear deal. Iran is still barred from using the American financial system, and many foreign banks who are free to engage with Iran hesitate to do so, fearing they will run afoul of American sanctions. Iran's banking system has not kept up with strict new rules to prevent money-laundering and terrorist financing. Experts say Iranian banks are badly run, politicized and lack transparency. Iran's warlike behavior in the region further discourages investment. 2016-04-18 00:00:00Full Article
What Iran Needs to Fix
(New York Times) Editorial - Since concluding the nuclear deal last July, Iran has yet to realize the expected economic benefits, but to a large extent has itself to blame. One impediment is that most American sanctions remain in place because of Iran's involvement in terrorism and human rights abuses and its testing of ballistic missiles. Iran knew that lifting all American sanctions was never part of the nuclear deal. Iran is still barred from using the American financial system, and many foreign banks who are free to engage with Iran hesitate to do so, fearing they will run afoul of American sanctions. Iran's banking system has not kept up with strict new rules to prevent money-laundering and terrorist financing. Experts say Iranian banks are badly run, politicized and lack transparency. Iran's warlike behavior in the region further discourages investment. 2016-04-18 00:00:00Full Article
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